Registered number
14196772
Fenlet Ltd
Filleted Accounts
30 June 2023
Fenlet Ltd
Registered number: 14196772
Balance Sheet
as at 30 June 2023
Notes 2023
£
Fixed assets
Tangible assets 3 416,911
Current assets
Debtors 4 1,156
Cash at bank and in hand 63,981
65,137
Creditors: amounts falling due within one year 5 (474,579)
Net current liabilities (409,442)
Net assets 7,469
Capital and reserves
Called up share capital 2
Profit and loss account 7,467
Shareholders' funds 7,469
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C Bettinson
Director
Approved by the board on 20 March 2024
Fenlet Ltd
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investments
Investment property is carried at fair value determined annually by valuation and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023
Number
Average number of persons employed by the company 2
3 Tangible fixed assets
Land and buildings
£
Cost
Additions 416,911
At 30 June 2023 416,911
Depreciation
At 30 June 2023 -
Net book value
At 30 June 2023 416,911
4 Debtors 2023
£
Trade debtors 1,156
5 Creditors: amounts falling due within one year 2023
£
Trade creditors 34
Taxation and social security costs 1,751
Other creditors 472,794
474,579
6 Other information
Fenlet Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Highfield Farm Cranesgate North
Whaplode St. Catherines
Spalding
Lincolnshire
PE12 6SR
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